May 21, 2014 / 11:40 AM / 4 years ago

MARKET PULSE-Tiffany, Trina Solar, Lowe's, Rio Alto, ViaSat

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stock index futures rose on Wednesday. Dow Jones industrial average futures were up 0.18 percent at 16,366, S&P 500 futures were up 0.22 percent at 1,872.3 and Nasdaq 100 futures were up 0.21 percent at 3,604.

** TIFFANY & CO, Tuesday close $88.23, +6.00 pct premarket

The retailer reported a 13 percent rise in quarterly sales as the company’s increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market.

** TRINA SOLAR LTD, Tuesday close $10.36, +7.53 pct premarket

The Chinese solar company posted its third quarterly profit in a row, helped by higher prices for its solar panels.

** NETFLIX INC, Tuesday close $371.67, +0.92 pct premarket

The internet television network will launch its online movie and TV subscription service later this year in France, Germany and four other European countries, in a major push into new markets.

** LOWE’S COS INC, Tuesday close $45.52, +0.51 pct premarket

The world’s second largest home improvement chain said its sales picked up in May, after the company reported weaker-than-expected quarterly results as a severe winter in the United States hurt traffic to its stores.

** CITIGROUP INC, Tuesday close $46.55, +0.11 pct premarket

The bank is looking to increase its market share in the U.S. mortgage market by buying home loans from other lenders, a top executive said on Tuesday.

** RIO ALTO MINING LTD, Tuesday close $1.96, +16.33 pct premarket

The miner said it would buy Sulliden Gold Corp Ltd SUE.TO in a deal valued at about C$300 million ($275 million), creating a gold miner focused on Peru.

** HERCULES OFFSHORE INC, Tuesday close $4.36, +4.59 pct after market

The offshore drilling company has signed a five-year drilling contract with Maersk Oil North Sea UK Ltd, valued at about $420 million.

Hercules will operate the rig in the Central North Sea, with the contract expected to begin in mid-2016.

** MICROSOFT CORP, Tuesday close $39.68, +0.25 pct premarket

China has banned government use of Windows 8, Microsoft’s latest operating system, a blow to a U.S. technology company that has long struggled with sales in the country.

** FACEBOOK INC, Tuesday close $58.56, +0.36 pct premarket

Facebook Inc is expanding its new video advertising service, allowing marketers to show the television-like spots to users of the social network in Britain, Brazil and five other countries, the company told Reuters.

** VIASAT INC, Tuesday close $58.64, -2.78 pct after market

The satellite broadband company’s fourth-quarter results missed analysts’ average estimate, hurt by higher spending on sales and research and development.

** INTUIT INC, Tuesday close $76.84

The financial software developer reported a 20 percent jump in quarterly profit as demand rose for its tax-preparation software TurboTax during the delayed tax filing season.

** GENERAL MOTORS CO, Tuesday close $33.07

The automaker said on Tuesday that it was recalling another 2.6 million vehicles globally, raising the number of vehicles it has recalled so far this year to almost 15.4 million.

** EXXONMOBIL CORP, Tuesday close $100.67

The petrochemicals maker’s $19 billion liquefied natural gas project in Papua New Guinea, which is shipping its first cargo, is set to dramatically transform one of Asia-Pacific’s most unstable countries, for better or for worse.

** GOLDMAN SACHS GROUP INC, Tuesday close $156.35

The bank has begun a formal process to sell the metals warehousing business it purchased four years ago, a spokesman said on Tuesday, disclosing the first definitive effort to shed the operation amid regulatory and political pressure.

** ASTRAZENECA PLC, Tuesday close $72.2, +2.70 pct premarket

** PFIZER INC, Tuesday close $29.25, +0.24 pct premarket

Some leading AstraZeneca shareholders were at odds over whether the British drugmaker made the right decision in rejecting Pfizer Inc’s final $118 billion bid to buy the company.


The world’s biggest generic drugmaker is launching three new products in 2014 with combined estimated peak sales of $1 billion, its chief executive said on Tuesday.

** SALESFORCE.COM INC, Tuesday close $52.89, +0.96 pct premarket

The world’s biggest maker of online sales software raised its full-year forecast after reporting a better-than-expected 37 percent rise in quarterly revenue, helped by higher demand for its sales and marketing software.

** BHP BILLITON LTD, Tuesday close $68.46, +0.64 pct premarket

The diversified natural resources company said it may seek government intervention to avert industrial action by tugboat workers at the Port Hedland iron ore port that threatens to disrupt hundreds of millions of dollars in exports.

** AMERICAN EAGLE OUTFITTERS iNC, Tuesday close $11.33, -0.88 pct premarket

The struggling teen apparel retailer, which has been hurt by choppy sales trends at malls, will announce its first-quarter results on Wednesday before the bell. The retailer forecast first-quarter earnings below analysts’ average estimate as intense competition from fast fashion chains keeps shoppers away. Adverse winter weather reduced earnings by 3 cents per share in the quarter, the retailer has estimated.

** EATON VANCE CORP, Tuesday close $35.46

The asset manager will report second-quarter results on Wednesday before market opens. The company’s results are expected to be in line with estimates, according to StarMine data. Analysts will be looking at the performance of Eaton Vance’s equity funds, which have witnessed outflows in recent times, despite the rising stock market.

** BRISTOW GROUP INC, Tuesday close $74.01

The provider of helicopter services to the offshore energy industry is expected to report a higher quarterly profit after the bell, driven by a higher number of orders. Investors expect demand for helicopters to soar in the coming quarters.

** NETAPP INC, Tuesday close $33.95

The maker of storage systems and data management software is likely to report in-line fourth-quarter results after the bell, according to Starmine data. It had forecast lower-than-expected revenue for the current quarter. At least three brokerages have downgraded the stock since it reported quarterly results in February.

** TARGET CORP, Tuesday close $56.61, -0.02 pct premarket

The retailer is expected to report first-quarter results before the bell on Wednesday. Target fired Chief Executive Gregg Steinhafel earlier this month following a massive data breach during the holiday season and the botching of its Canadian expansion, which led to significant damage to the company’s reputation and hit sales. All eyes are on now on CFO-turned-CEO John Mulligan to fix Target’s Canadian operations and get back U.S. customers spooked by the payment card breach.

** HEWLETT-PACKARD CO, Tuesday close $32.8, -0.03 pct premarket

The PC maker is still trying to keep things on an even keel as personal computer demand crumbles and spending by corporations and government agencies on computing stays shaky. When the company reports results after the bell, Wall Street will expect to see slight but discernible improvement in efforts to curtail its revenue decline and protect margins, given Cisco’s better-than-expected performance last quarter and IBM’s somewhat positive outlook. (Compiled By Ankit Ajmera in Bangalore, Editing by Simon Jennings)

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